Michaels offers new credit card tied to rewards program
The Michaels Companies Inc. is expanding its recently updated rewards offering with a new branded credit card.
The major North American specialty arts & crafts retailer is introducing the new
Michaels credit card. Customers can apply for the card in-store or online. Members of the Michaels Rewards loyalty program can earn 9% of the daily value of purchases made on the card in loyalty points.
In addition, all customers will receive 20% on their first purchase with the card when they open a Michaels credit account. The retailer will also offer occasional free shipping on online orders made using the card, as well as periodic special financing opportunities for eligible Michaels credit plans and purchases.
Michaels is releasing its new credit card several months after making a number of significant updates to its Michaels Rewards Program, that were intended to simplify the offering while maximizing its value for the most loyal customers.
In an exclusive interview, Sachin Shroff, VP of CRM, loyalty and marketing tech for the Michaels Companies, said customer feedback about the need for a streamlined rewards experience and help with inflation prompted the retailer to upgrade its loyalty program. Changes included more relevant personalized bonus offers, $5 vouchers, and the introduction of rewards of 3 to 6% back on every purchase, depending on total yearly spending.
[Read more: Exclusive: Michaels streamlines, expands loyalty program]
The Michaels Credit Card is issued by Comenity Capital Bank, a subsidiary of Bread Financial.
“The new Michaels Credit Card enables us to give our customers even more value and flexibility when they shop at Michaels,” said Heather Bennett, executive VP of marketing and e-commerce at Michaels. “With the ability to earn 9% in rewards every day on top of promotions and special offers, there’s never been a better time to create with Michaels.”
“Bread Financial is thrilled to collaborate with Michaels on a credit card program that provides lovers of arts, crafts and décor even more reasons to choose Michaels for all their creative needs,” said Val Greer, executive VP and chief commercial officer at Bread Financial. “We’re proud to be partnering with them to bring this program and its many benefits to their most loyal customers, and we look forward to seeing it grow.”
Based in Irving, Texas, The Michaels Companies Inc. operates 1,275 stores in 49 states and Canada, and online at Michaels.com and Michaels.ca. The Michaels Companies also owns Artistree, a manufacturer of custom and specialty framing merchandise.